Synthetic Cannabinoids Market: Introduction

  • Synthetic cannabinoids are human-made mind-altering chemicals found in the marijuana plant that provides medical benefits. Synthetic cannabinoids are functionally similar to 9-tetrahydrocannabinol (THC), the active principle of cannabis that are naturally found in the marijuana plant. Synthetic cannabinoid drugs generally contain a mixture of psychoactive compounds that mostly bind cannabinoid receptors with high potency and efficacy. Several pharmaceutical companies are currently researching and developing synthetic cannabinoids for different therapeutic applications. The manufacturing of chemically synthesized cannabinoids occurs in regulatory-approved API facilities much like other pharmaceutical drugs and has a repeatability factor that allows the development of consistent batches.
  • The global synthetic cannabinoids market is projected to grow at a significant pace during the forecast period, owing to their therapeutic effects on a wide range of illnesses and diseases, including depression and anxiety, seizures, dermatological conditions, and even various cancers.

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Key Drivers of Global Synthetic Cannabinoids Market

  • Decriminalization of synthetic cannabis products and rise in awareness about the advantages of synthetic cannabis in the treatment of pain, skin disease, vomiting, and depression are likely to drive the global synthetic cannabinoids market
  • Favorable government support and approvals for products based on synthetic cannabinoids  are some other factors that are expected to drive the global synthetic cannabinoids market

Side Effects of Synthetic Cannabinoids to Restrain Global Market

  • Long-term use or chronic use of synthetic cannabinoids has been associated with serious psychiatric and medical conditions such as sever cognitive impairment and even death. This can hamper the growth of the market.

North America to Hold Major Share of Global Synthetic Cannabinoids Market

  • The synthetic cannabinoids market in North America is anticipated to grow at a rapid pace during the forecast period. This can be attributed to the wide availability of products and presence of major companies constantly promoting its brand among health care professionals in the region. Moreover, recent approvals of cannabidiol drugs by the FDA in the U.S. for the treatment of two severe forms of epilepsy: Lennox-Gastaut syndrome and Dravet syndrome. This is expected to drive the market in the region.
  • The synthetic cannabinoids market in Europe is anticipated to grow at a significant pace due to rise in adoption of synthetic cannabinoids drugs among cancer patients and rise in awareness about therapy, specially, in developed countries of Europe where research and development activity is high such as Germany, the U.K., and France

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Key Players Operating in Global Synthetic Cannabinoids Market

Major players operating in the global synthetic cannabinoids market are:

  • AbbVie Inc.
  • GW Pharmaceuticals plc.
  • Mylan N.V.
  • CV Sciences, Inc.
  • Isodiol International Inc
  • CURE Pharmaceutical
  • Zynerba Pharmaceuticals, Inc
  • Aphios Corporation
  • BOTANIX PHARMACEUTICALS
  • INSYS THERAPEUTICS, INC

Global Synthetic Cannabinoids Market: Research Scope

Global Synthetic Cannabinoids Market, by Product Type

  • Prescription Synthetic Cannabinoids
    • Nabilone
    • Nabiximols
    • Dronabinol
  • Non-prescription Synthetic Cannabinoids
    • Cannabis Oils
    • Dried Cannabis

Global Synthetic Cannabinoids Market, by Indication

  • Nausea/Vomiting
  • Pain Management
  • Skin Problem
  • Others

Global Synthetic Cannabinoids Market, by Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

Global Synthetic Cannabinoids Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Synthetic Cannabinoids Market

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